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Consumers not confident about NYC’s economic future: analysis

New York is suffering from a retail apocalypse. It’s so bad, consumer confidence in the city’s economic future has plummeted to the lowest level recorded since December 2015, the latest analysis reveals. Signs of this deepening malaise are everywhere: Boarded-up retail storefronts are turning entire blocks into urban ghost towns. Analysts blame many factors, including soaring rents, living costs, taxes and labor regulations. “Some of the new labor laws are almost impossible to comply with,” said Mary Silva, who with her husband Edward owns Maz Mezcal, a popular Mexican restaurant on East 86th Street, explaining how their business is struggling to stay afloat amidst rising overhead. Despite the national economic recovery, New ...